On 25 June, Wattle Ltd Acquires Equipment on Credit Terms

On 25 June, Wattle Ltd acquires equipment on credit terms from a New Zealand supplier, Timaru Ltd, for NZ$240 000. The exchange rate at 25 June was NZ$1.00 = A$095. On 30 June the exchange rate is NZ$1.00 = A$0.90. Wattle Ltd pays Timaru Ltd in full on 7 July when the exchange rate is NZ$1.00 = A$0.92. The journal entry recorded by Wattle Ltd for the purchase of the equipment on 25 June is:

A) DR Equipment A$240 000; CR Cash A$240 000
B) DR Equipment A$228 000; CR Payable to Timaru Ltd A$228 000
C) DR Equipment A$216 000; CR Payable to Timaru Ltd A$216 000
D) DR Equipment A$220 800; CR Payable to Timaru Ltd A$220 800